William And Lisa Mcgahan Family Foundation Inc
- Assets
- $2.6m
- Revenue
- -$371.2k
- Investments
- $2.5m
- Employees
- 0
- Location
- Dorado, PR
- Founding
- 01/2012
- Data as of
- 12/2022
- EIN
- 90-0771779
Organization Overview
William And Lisa Mcgahan Family Foundation Inc is located in Dorado, PR. The organization was established in 2012. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William And Lisa Mcgahan Family Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, William And Lisa Mcgahan Family Foundation Inc has awarded 87 individual grants totaling $659,955. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE AND EDUCATIONAL PURPOSES. GIFTS AND GRANTS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)3 OF THE INTERNAL REVENUE CODE. THE FOUNDATION MADE 27 CHARITABLE GIFTS TO VARIOUS NOT-FOR-PROFIT ORGANIZATIONS. THE GIFTS WERE TO ASSIST PEOPLE IN NEED AND TO FUND EDUCATIONAL INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William C Mcgahan President/secretary | 8 | $0 | |
Lisa O Mcgahan Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $58,412 |
| Dividends & Interest | $14,879 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$444,464 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$371,173 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,360 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $9,160 |
| Contributions, gifts, grants paid | $556,543 |
| Total expenses and disbursements | $565,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,980 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $11,474 |
| Total assets | $2,554,644 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $428,571 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $428,571 |
Grants Awarded
Over the last fiscal year, William And Lisa Mcgahan Family Foundation Inc has awarded $127,972 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AGAPE CENTER PURPOSE: GENERAL SUPPORT | $150 |
ALEMEDA COUNTY FOOD BANK PURPOSE: GENERAL SUPPORT | $250 |
ATLANTA BALLET PURPOSE: GENERAL SUPPORT | $400 |
BOYS AND GIRLS CLUB PURPOSE: GENERAL SUPPORT | $100 |
CAMBIANDO VIDAS PURPOSE: GENERAL SUPPORT | $1,000 |
CAMP TWIN LAKES PURPOSE: GENERAL SUPPORT | $15,000 |